George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
If you've seen the DEC Share Price page here on LSE you can't have missed the symmetry in the 3 month share price chart.
Question to the chartists: Is the symmetrical pattern significant and what does it mean?
@tom111
https://www.nyse.com/quote/XNYS:DEC
DIVERSIFIED ENERGY COMPANY PLC (DEC)
15.94 +0.76 (+5.01%)
Last Trade Time: 01/04/2024 13:14:00
The letter of 18th December 2023 from the US House of Representatives Committee on Energy and Commerce addressed to Rusty Hutson of Diversified Energy Company set out a detailed request for information and documents to be submitted by January 3, 2024.
I've been looking on https://energycommerce.house.gov/ and can't find the letter of 18th December or a reply.
Does anyone know whether the information was supplied and whether it will be publically available?
"the total number of ordinary shares of 1p each in the capital of the Company in issue as at 29 December 2023 is 47,923,726"
The consolidation at 1:20 cancelled the 1p shares and replaced them with 20p shares. The 'Transaction in Own Shares' RNSs since consolidation such as this one from 27th December say "Following the cancellation of Shares, Diversified will have 47,923,726 ordinary shares of 20 pence each in issue and no ordinary shares are held in treasury."
This is my observation and one for the pedants but it makes me wonder who writes these RNSs and why they don't know the denomination of the shares.
Finally, from the 4th December RNS Result of General Meeting;
Issue of one ordinary share and admission of Ordinary Shares in Conjunction with Share Consolidation and Total Voting Rights
In conjunction with the consolidation of the Company's existing shares, the Company has today allotted and issued one new ordinary share of £0.01 credited as fully paid up by way of capitalisation of its distributable reserves to round up holdings to a number, which following Consolidation, leaves a whole number of Ordinary Shares. An application has been made to the Financial Conduct Authority and to the London Stock Exchange for admission of one ordinary share of £0.01 and the 48,223,835 Ordinary Shares of £0.20 each to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). For clarity, this Admission is in replacement of the Company's previously listed 964,476,699 Ordinary Shares of £0.01 each. It is expected that Admission will occur at 8 a.m. on 5 December 2023. The ISIN for the Ordinary Shares following Consolidation is GB00BQHP5P93.
Following Admission, the Company's total issued share capital will consist of 48,223,835 Ordinary Shares of £0.20 each in the Company. The Company does not hold any Ordinary Shares in treasury. Therefore, following Admission, the total number of voting rights in the Company will be 48,223,835. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
My broker doesn't trade ASX listed shares. I can't buy only sell and that's through HSBC as an intermediary. I'd like a takeover by US or UK listed miner. Alternatively if the SP hits ~AUD2.5 again I might bail out and buy into another gold miner / producer or ETF / ETC.
I'm slightly concerned about recent moves into Sudan and Tanzania. I appreciate that they need to do something with the cash to grow the company.
Https://seekingalpha.com/article/4651590-diversified-energy-company-headwinds-derivatives-book
Overall, I believe Diversified Energy is trading at a relatively high valuation compared to its competitors in the natural gas producing space. Given their smaller generating footprint and less concentrated assets, as well as their high levels of debt and unique capital structure, I believe DECPF equity is significantly overvalued. Given these risk factors as well as their heavy dependence on the futures market, I rate DECPF shares a SELL rating with a price target of $0.47/share.
Https://www.ii.co.uk/analysis-commentary/are-diversified-energy-shares-heading-higher-ii529619
If the link is obscured search for 'interactive investor alistair strang' and it's currently his most recent article. Text, no chart, below;
Are Diversified Energy shares heading higher?
Independent analyst Alistair Strang gives his view on the direction of the oil & gas company.
24th October 2023 08:55
by Alistair Strang from Trends and Targets
Diversified Energy Co DEC are oil & gas focused, work in the US, are listed in London and boast a pretty informative website. The chart below shows the share price currently plumbing the depths of lower lows!
There’s a pretty grim argument favouring us mentioning that it’s on a cycle to a potential bottom of just 52p, effectively a return to a price level last seen when the listing commenced in 2017. We’d certainly have some concerns if the share price discovered an excuse to sink below the recent 64p, as this would doubtless herald a final tumble to a hopeful bottom. We cannot confidently calculate anything below 52p, so that alone gives some (slight) hope for a bounce if such a silly-looking drop target materialises.
However, since the share reached the 64p level at the start of this month, there has been some fascinating share price movements, which suggest the share price is currently about to weaken down to 70p, hopefully discovering a trampoline level. Any bounce capable of exceeding 78p calculates with the potential of a lift to 85p with our longer-term secondary, if exceeded, working out at a future 98p. Our argument is based on the big picture already suggesting that 64p should be regarded as a bottom and, despite current grotty market conditions, this should be heading upwards.
One funny thing about our calculation that proposed a future 98p is that this will effectively represent a “higher high”, with the result that closure above such a price level should send a clear signal to hold on and wait, the big picture giving some pretty interesting future potentials, which, to be fair, we will need to revisit if 98p makes an appearance. We are the first to admit that our abilities in this time-machine game are just a little lacking.
Https://trad inge cono mics .com/commodity/natural-gas
Hopefully that URL is obvious. My spaces added.
I've noticed the US Gas Price has gone up 10% this morning from $2.6/MMBtu to $2.9/MMBtu.
The oils are also up about 1%.
Is this trend going to continue over the next week's and months and lift the SP from these low 80s?
@Craigb - Thanks for posting the link. I don't know First Berlin Equity Research. They seem quite confident in their short assessment of the company. Price targets are what they are. Some are never achieved. I'd be out buying the champagne at 180 if that were to happen.
Replying to Agricore, post at 09:50 today.
I read this as prior to the conference call at 12:00 BST the results and the powerpoint slides of the presentation will be available on their website. Probably RNS'd at 07:00 BST, or a few minutes after. Nothing more.
What prompted todays SP rise? xd tomorrow, 31st Aug, will there be a ~3p price drop or is something else going to show before the end of the week?
Thanks MH01. This article from 2nd June mentions the diluting cash raise. There was a press story about a cash raising equity issue around that time. Is this article repeating it or the source?
"There is a further factor here – Greatland is working with Australian banks on an issue and listing here to raise up to $A100 million with the float happening in the third quarter of this year."
Probably better if you visit https://tradingeconomics.com/forecast/commodity to see it laid out correctly.
Anyway the forecast for gold is +$100 in 12 months.
It doesn't say how they come up with these figures though. Take them for what they are.
Thanks for the link MH01. Admittedly I only skipped through the video but I did catch the bit where he see gold going to $5000/oz. I didn't hear him say when though. I don't know of this guy and I expect there are a lot of gold pundits/bulls available on YouTube. The top recommended in the list on the right of the video is why Warren Buffet won't invest in gold. Whether that's the metal or the stocks I don't know and I'm not going to watch it.
What I did find recently is the forecasts on Trading Economics and, for general interest purposes only, this is the next year of forecasts for gold. Hopefullt the tabbed data all lines up ok when I post this!
https://tradingeconomics.com/forecast/commodity
Metals Price Q3/23 Q4/23 Q1/24 Q2/24
Gold 1,957.38 1,985.48 2,009.41 2,033.74 2,058.45
Hi MidasMac, thanks for the link.
Two sentences from the article; Currently, funds must tell the FCA when they have borrowed 0.1% of a company's outstanding stock in order to short it. Now, that threshold will increase to 0.2% of the stock.
I've just been reading that Jeremy Hunt appeared to overrule the FCA who wanted to keep the EU era regulations and opposed to the change.
I believe the threshold for public disclosure is 0.5% and that isn't mentioned. Why the difference? Should the public disclosure level be lowered to match the new 0.2% requirement?